GasLog Partners LP (GLOP) stock prices were up 4.78% as of the market close on July 26th, 2021, bringing the price per share up to USD$5.26 at the end of the trading day. Subsequent premarket fluctuations saw the stock fall by 11.60%, bringing it down to USD$4.65.
GLOP Stock’s Charter Agreements
GLOP stock recently announced three new time charter agreements with a string of companies: GasLog Sydney was chartered for one year in collaboration with a subsidiary of TotalEnergies SE; Solaris was chartered for eight months in a partnership with Royal Dutch Shell; and a deal with a wholly owned subsidiary of Cheniere Energy, which will see Methane Heather Sally being chartered for one to three years. The company also signed a new one-year time charter agreement with TotalEnergies for GasLog Seattle.
Additional Recent Developments
The second quarter of fiscal 2021 saw the company repay USD$18.8 million in debt, contributing to the USD$54.8 million of debt repaid over the first six months of 2021. GLOP stock also published the Partnership’s Sustainability Report for the previous year on July 20th, 2021. Effective August 1st, 2021, GLOP will see Mr. Eniozi, currently, Chief Operating Officer of GasLog, take over as director of the Partnership and as CEO of the Partnership.
GLOP Stock Hits Quarter Milestone
GLOP stock finalized previously scheduled dry-dockings for three vessels from its fleet: the Methae Rita Andrea, the GasLog Greece, and the GasLog Glasgow. This has resulted in a total of 82 scheduled off-hire days for the 2021 quarter, up from zero off-hire days reported for the second quarter of 2020.
Financial Reports
Revenue for the second quarter of 2021 was reported at USD$70.4 million, while profits for the quarter were reported at USD$14.7 million. Adjusted profit was USD$12.7 million for Q2 2021, with adjusted EBITDA reported at USD$45 million. Earnings per unit for the quarter came in at USD$0.14, with an adjusted earnings per unit of USD$0.10. the second quarter of fiscal 2021 also saw GLOP stock declare a cash distribution of USD$0.01 per common unit on record.
Future Outlook for GLOP Stock
Armed with a string of new strategic collaborations, GLOP stock is keen to continue its trajectory of success. The company is keen to continue expanding and consolidating its market footprint, with investors hopeful for organic growth and long term increases in shareholder value.
